319/2017 Exercise 5-4 Print by: HAYEL ZANDANI S 17 ACC1101/OL10 Chapter Five-Problems *Exercise 5-4 On June 10, Diaz Company purchased $10,000 of merchandise from Taylor Company, FOB shipping point, terms 2/10, n/30. Diaz pays the freight costs of s420 on June 11. Damaged goods totaling $450 are returned to Taylor for credit on une 12. The fair value of these goods is s80. On June 19, Diaz pays Taylor Company in full, less the purchase discount. Both oompanies use a perpetual inventory system. Prepare separate entries for each transaction on the books of Diaz Company. (Credit account titles are automatically Indented when amount entered. Do not Indent manually. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 5,275J Account T and Debit Credit Explanation Prepare separate entries for each transaction for Taylor Company. The merchandise purchased by Diaz on June 10 had cost Taylor S4,800. (Credit account tithes are automatically indented when amount is entered. Do not indent manually. Record Journal entries in the order presented in the problem. Round answers to 0 declmal places, e.g. 5, 275.) Account Titles and Debit Credit Explanation o record credit sale o record cost of merchandise sold) CTo record merchandise returned) httpsziedugen.Mileyplus.comledugen'sharedassignmenttestiprint uni